Breaking News
Nagaland Post Logo
You are here:  Skip Navigation LinksHome » Show story
Meghalaya waives VAT on kerosene, LPG
Correspondent SHILLONG, JUL 1:
Published on 2 Jul. 2011 12:13 AM IST
Print  Text Size

Providing relief to the people of Meghalaya from the recent hike in petroleum products, the Meghalaya Cabinet Friday exempted full tax on cooking gas and kerosene.
“We have decided to give full exemption of value added tax on cooking gas and kerosene to ease the additional burden faced by the common man,” Chief Minister Mukul Sangma told journalists.
The exemption of VAT on cooking gas and kerosene will provide a big relief to the consumers by paying `20.13 paise per cooking gas and `0.67 paise per litre in respect of Kerosene.
In order to contain the likely rise in the prices of other essential commodities on account of the hike of diesel by `3/- per litre, Sangma said consumers will pay less `0.50 paise per litre.
He hinted that the state government would also take more steps to control price rise in the state.
The central government, after announcing the hike in diesel, kerosene and LPG prices by `3 and `2 per litre and `50 in case of LPG cylinders, had asked state governments to reduce state-level taxes to lower the prices of these commodities
With the exemption VAT on these three key items, the Meghalaya government is estimated a loss of revenue totalling to the tune of `9.52 crores annually to the state exchequer. “We will be losing a revenue of revenue of `7.03 crore from diesel, `1.76 crore from cooking gas and Kerosene of `0.73 lakh annually,” Sangma said.
He, however, said the government has already taken a number of steps for mobilization of additional resources to make up for these revenue losses in the larger public interest.

Comments:(0) Login or Register to post your Comment
(Available for registered users only)
More News
  • 1
  • 2